A goal of contractionary monetary policy is to:
A) decrease the rate of growth of real GDP.
B) increase the rate of growth of real GDP.
C) increase inflation.
D) none of the above.
A
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Use the following table for a certain product's market in Marketopia to answer the next question.Quantity Demanded DomesticallyPriceQuantity Supplied Domestically1,400$102,2001,60092,0001,80081,8002,00071,6002,20061,4002,40051,200Assume the small-country model is applicable. If the world price of the product is $6 and an import quota of 400 units is imposed on the product, then the equilibrium price in Marketopia would be ________ and the total quantity available in Marketopia would be ________ units.
A. $7; 1,800 B. $6; 1,800 C. $6; 2,200 D. $7; 2,000
Members of the Federal Reserve Board of Governors are
A. appointed by Congress to staggered 14-year terms. B. selected by each of the Federal Reserve banks for 4-year terms. C. selected by the Federal Open Market Committee for 4-year terms. D. appointed by the president to staggered 14-year terms.
Holding all else constant, a rise in interest rates in the United States will cause the dollar to appreciate in international exchange markets
Indicate whether the statement is true or false
Americans generally spend over _______ of their income on consumption.
A. one-third B. one-half C. two-thirds D. nine-tenths